Jupiter Topco LLC Makes New $20.71 Million Investment in M/I Homes, Inc. $MHO

Jupiter Topco LLC bought a new stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 128,800 shares of the construction company's stock, valued at approximately $20,711,000. Jupiter Topco LLC owned approximately 0.51% of M/I Homes at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MHO. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes in the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its position in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Langley Wealth Management LLC acquired a new position in M/I Homes in the 2nd quarter valued at approximately $45,000. Aster Capital Management DIFC Ltd acquired a new position in M/I Homes in the 4th quarter valued at approximately $49,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in M/I Homes by 1,090.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company's stock worth $64,000 after buying an additional 458 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Activity

In related news, CFO Phillip G. Creek sold 10,000 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,677,275.04. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MHO shares. Zacks Research raised shares of M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, June 26th. Freedom Capital raised shares of M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. New Street Research set a $172.00 price objective on M/I Homes in a report on Tuesday, August 4th. Weiss Ratings reissued a "hold (c)" rating on shares of M/I Homes in a research report on Wednesday, August 12th. Finally, Zelman & Associates downgraded M/I Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, M/I Homes has an average rating of "Moderate Buy" and a consensus price target of $164.25.

M/I Homes Price Performance

Shares of MHO opened at $151.72 on Friday. The firm has a market cap of $3.84 billion, a PE ratio of 12.77 and a beta of 1.60. The firm's 50 day moving average price is $151.44 and its 200 day moving average price is $139.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66.

M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $4.42 earnings per share. The company's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts expect that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.

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